Texas warrants were issued to aid in state income.  What you might know today as a bond...they were called warrants--which meant the State backed up the amount and interest of the face value.  The Texas warrants, which had already appreciated following the Confederate currency reform, approximately doubled again in value relative to gold and to the Confederate dollar following the Texas Revenue Act of November 1864 . Without the support provided by vigorous tax collection and other
fiscal measures, it is likely that the Texas warrants would have fallen in value along
with the Confederate dollar during the final months of the war. The state of Texas
might have had to put increasing quantities of warrants into circulation to fund its
operations, at the risk of engendering an inflationary spiral. As it was, the enhanced
tax-backing of the warrants was instrumental in enabling the state of Texas to con-
tinue to function, even following Lee’s surrender, until Union forces actually overran
the state.

The item up for auction pictured is a FACSIMILE/REPRODUCTION of a $1 Texas Warrant.